Credit cards payments processor Visa (NYSE:V) reported an increase in fiscal fourth quarter profits after the close of trading late yesterday.
Earnings rose to $880 million, or $1.27 per share, from $774 million, or $1.06 per share, last year.
Revenue grew 13%, to $2.38 billion.
Results were just ahead of analyst estimates.
Visa said payments volume growth rose 13% in the third quarter, while total processed transactions grew by 9%.
Rival MasterCard (NYSE:MA), which reports results next week, while American Express (NYSE:AXP), which actually extends credit in addition to issuing cards and processing payments, reported an increase in earnings last week.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.